Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Uber Technologies Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Revenue	14,191)	13,203)	14,366)	13,467)	12,651)	11,533)	11,959)	11,188)	10,700)	10,131)	9,936)	9,292)	9,230)	8,823)	8,607)	8,343)	8,073)	6,854)	5,778)	4,845)	3,929)	2,903)
Cost of revenue, exclusive of depreciation and amortization	(7,815)	(7,258)	(8,681)	(8,109)	(7,611)	(6,937)	(7,234)	(6,761)	(6,488)	(6,168)	(6,057)	(5,626)	(5,515)	(5,259)	(5,307)	(5,173)	(5,153)	(4,026)	(3,104)	(2,438)	(2,099)	(1,710)
Gross profit	6,376)	5,945)	5,685)	5,358)	5,040)	4,596)	4,725)	4,427)	4,212)	3,963)	3,879)	3,666)	3,715)	3,564)	3,300)	3,170)	2,920)	2,828)	2,674)	2,407)	1,830)	1,193)
Operations and support	(805)	(763)	(755)	(735)	(696)	(668)	(678)	(687)	(682)	(685)	(702)	(683)	(664)	(640)	(605)	(617)	(617)	(574)	(547)	(475)	(432)	(423)
Sales and marketing	(1,515)	(1,326)	(1,354)	(1,277)	(1,210)	(1,057)	(1,209)	(1,096)	(1,115)	(917)	(935)	(941)	(1,218)	(1,262)	(1,122)	(1,153)	(1,218)	(1,263)	(1,262)	(1,168)	(1,256)	(1,103)
Research and development	(1,043)	(951)	(885)	(862)	(840)	(815)	(785)	(774)	(760)	(790)	(784)	(797)	(808)	(775)	(747)	(760)	(704)	(587)	(558)	(493)	(488)	(515)
General and administrative	(935)	(798)	(732)	(1,183)	(669)	(657)	(1,114)	(630)	(686)	(1,209)	(603)	(646)	(491)	(942)	(745)	(908)	(851)	(632)	(611)	(625)	(616)	(464)
Depreciation and amortization	(188)	(184)	(185)	(188)	(175)	(171)	(169)	(179)	(173)	(190)	(203)	(205)	(208)	(207)	(223)	(227)	(243)	(254)	(246)	(218)	(226)	(212)
Income (loss) from operations	1,890)	1,923)	1,774)	1,113)	1,450)	1,228)	770)	1,061)	796)	172)	652)	394)	326)	(262)	(142)	(495)	(713)	(482)	(550)	(572)	(1,188)	(1,524)
Interest expense	(127)	(108)	(115)	(112)	(108)	(105)	(117)	(143)	(139)	(124)	(155)	(166)	(144)	(168)	(151)	(146)	(139)	(129)	(130)	(123)	(115)	(115)
Interest income	172)	175)	393)	—)	181)	169)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other income (expense), net	1,342)	(1,494)	(1,761)	1,619)	(19)	93)	256)	1,851)	420)	(678)	1,331)	(52)	273)	292)	767)	(535)	(1,704)	(5,557)	1,471)	(1,832)	1,943)	1,710)
Income (loss) before income taxes and income (loss) from equity method investments	3,277)	496)	291)	2,620)	1,504)	1,385)	909)	2,769)	1,077)	(630)	1,828)	176)	455)	(138)	474)	(1,176)	(2,556)	(6,168)	791)	(2,527)	640)	71)
(Provision for) benefit from income taxes	(840)	(194)	40)	4,046)	(142)	402)	6,002)	(158)	(57)	(29)	(133)	40)	(65)	(55)	84)	(58)	(77)	232)	97)	101)	479)	(185)
Income (loss) from equity method investments	(21)	(20)	(14)	(14)	(12)	(13)	(10)	(12)	(12)	(4)	5)	3)	4)	36)	42)	30)	17)	18)	(9)	(13)	(7)	(8)
Net income (loss) including non-controlling interests	2,416)	282)	317)	6,652)	1,350)	1,774)	6,901)	2,599)	1,008)	(663)	1,700)	219)	394)	(157)	600)	(1,204)	(2,616)	(5,918)	879)	(2,439)	1,112)	(122)
Net (income) loss attributable to non-controlling interests, net of tax	(22)	(19)	(21)	(26)	5)	2)	(18)	13)	7)	9)	(271)	2)	—)	—)	(4)	(2)	15)	(12)	13)	15)	32)	14)
Net income (loss) attributable to Uber Technologies, Inc.	2,394)	263)	296)	6,626)	1,355)	1,776)	6,883)	2,612)	1,015)	(654)	1,429)	221)	394)	(157)	596)	(1,206)	(2,601)	(5,930)	892)	(2,424)	1,144)	(108)

A consistent and significant upward trajectory in revenue is observed from March 2021 through June 2026, with quarterly figures increasing from 2,903 million to 14,191 million. This growth is accompanied by a steady expansion in gross profit, which rose from 1,193 million to 6,376 million over the same period, indicating an improvement in the core efficiency of service delivery and a broadening of gross margins.

Operating Profitability Transition: A critical shift in financial performance occurred between late 2022 and mid-2023. The company moved from systemic operating losses, peaking at -1,524 million in March 2021, to sustained operating profitability starting in the second quarter of 2023. Income from operations grew steadily thereafter, reaching 1,890 million by June 2026, demonstrating a successful transition toward a scalable and profitable business model.
Expense Management and Scaling: Operating expenses exhibit varying degrees of correlation with revenue growth. While research and development costs showed a gradual increase from 515 million to 1,043 million, sales and marketing expenses remained relatively stable, oscillating between approximately 900 million and 1,500 million. This decoupling of marketing spend from revenue growth suggests an increase in organic acquisition and improved brand equity. General and administrative expenses remained volatile, with notable spikes in March 2024 and September 2025, though they did not grow proportionally with the top line.
Net Income Volatility and Non-Operating Factors: Net income attributable to the company exhibits extreme volatility compared to the stability of operating income. This variance is primarily driven by significant fluctuations in other income and expenses, as well as irregular tax provisions. A notable anomaly occurred in December 2024, where a tax benefit of 6,002 million resulted in a net income spike to 6,883 million. Despite these non-operating swings, the long-term trend reflects a move toward positive net results, supported by the emergence of interest income in 2025 and 2026.
Cost Structure Analysis: The cost of revenue, exclusive of depreciation and amortization, has increased in absolute terms from 1,710 million to 7,815 million. However, the rate of increase in gross profit suggests that the company is achieving better unit economics over time. Depreciation and amortization expenses have remained remarkably stable, hovering between 169 million and 254 million, indicating a light asset-intensive model relative to the scale of revenue growth.

The overall financial trajectory is characterized by aggressive top-line expansion and a successful pivot to operating leverage. While net income remains susceptible to non-cash items and tax adjustments, the fundamental operational health is indicated by the consistent growth in operating income and the optimization of sales and marketing expenditures relative to revenue.

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Uber Technologies Inc. (NYSE:UBER)

Income StatementQuarterly Data

Income Statement
Quarterly Data